The Impact Of RMB Exchange Rate Changes On The Export Volume Of My Country's High-tech Products And Analysis Of Countermeasures

After re-industrialization strategy of the world's major economies,the readjustment and redistribution of world industrial pattern will have an alternative effect on China's export of industrial products,which will produce an "extrusion effect".In order to avoid the "comparative advantage" trap and respond to "China made 2025" of national strategic pattern,high-tech products seem to be high value-added products of industry and have become an important force among China's commodity export.Under the condition of current international financial market and the exchange rate system of various countries,most countries currency exchange rate system adopts the floating exchange rate system based on the market supply and demand relationship.In addition,the continuous liberalization of capital and financial projects in various countries makes exchange rate change risk constantly appearing and showing an increasing trend.Then,it affects the export of China's high-tech products.Under such a macro background,this paper uses empirical analysis method,literature research method,and method of qualitative and quantitative analysis to study the effect of RMB exchange rate change on the exportation values of High-Tech products in China,whose monthly data are based on January of 2011 to December of 2017.According to RMB nominal exchange rate,the ratio of RMB to the main settlement currencies of the world,such as Dollar,Hong Kong dollar,and Euro,is not the same.For example,the RMB is in a slight devaluation between 2014 and 2015 to Dollar,and appreciates to the Euro at the same time.On the basis of a certain world currency,its impact on high-tech products export values can not represent the facts.After a brief introduction of RMB nominal exchange rate current situation,analysis of RMB real effective exchange rate,as well as the external relationship between RMB actual effective exchange rate and high-tech products export values is necessary.that is,the relationship is two curves about y=x symmetry.At the aspect of paper structure,firstly,this paper expounds the macro background and research significance of relationship between RMB exchange rate and high-tech products export values of China.Secondly,combing and summarizing the abroad and domestic relevant researches is carried out.Then,the basic theories and transmission mechanisms of RMB exchange rate impact on high-tech products export values are expounded.Thus,high-tech products export values,real effective RMB exchange rate,GDP,and foreign direct investment are seem as endogenous variables.Finally,VAR model of error correction shows that RMB real effective exchange rate is a Granger reason of the export values of high-tech products.The greatest contribution degree is 1.74%.In addition,the appreciation of RMB effective exchange rate will make the increase of high-tech products export values much less.Therefore,this paper puts forward some policy recommendations,such as reducing the RMB appreciation rate and encouraging enterprises to retain foreign exchange.